Omaha was ranked high among the 125 most populous U.S. cities with the least barriers to achieving homeownership, according to a new report by RealtyHop.
RealtyHop, a home listing site, looked at median incomes and asking prices for homes over the past year to figure how long it would take to save for a 20% down payment (assuming households save 20% of their annual gross income per year).
By RealtyHop’s measure, Omahans on average would have to save for 3.5 years to accumulate enough cash for that down payment. That put it among the 12 cities with the lowest barriers to homeownership.
Lincoln’s savings time was said to be 3.8 years, ranking it as the 23rd easiest city to buy a home.
For perspective, Los Angeles topped all 125 cities for having the greatest barrier. RealtyHop said families there would have to save for 13.8 years to enter homeownership and qualify for a loan.
On the other end, Detroit families would take 1.62 years to afford that 20% down payment.
Cool houses in the Omaha metro area
“Originally, we were just going to do the kitchen and master bedroom,” the homeowner says. “Then it all snowballed, as most home projects do. But I’m really happy with the results.”
The Hootons wanted a ranch, a deck, room for the piano, a home office, a dressing room, a band room and a walk-out basement. They got it all.
If their mountain retreat RV isn’t your thing, you could also check out their Flip Flop Inn, another RV transformed for when the Richlings visit family in Florida.
More than 40 gardens, museums, greenhouses, wineries, gift shops and farmers markets will be part of the tour that stretches along U.S. Highways 75 and 77 from Omaha to Sioux City, Iowa, including one meticulously planted by a retired Omaha principal.
Barbara Green was amazed when she first walked through the residence in Dundee. Built in 1911, it was a boarding house before becoming the rectory for St. Margaret Mary. It reverted to a family home when the parish moved west.
Sarah Stewart finally tackled the project armed with paint, painter's tape and $1,000.
Sandy Koepke can stand at her kitchen island and see glorious garden beds outside wherever she turns. A bedroom filled with windows gives her never-ending views of the changing seasons.
What had once been a tiny home is expanded and then the owners' art collection brings it to life.
Couple thought they had found and renovated their dream home − again − but then couldn't resist the idea of turning a church into a home.
Purple walls, bright rugs and Egyptian furnishings and accessories fill the 3,000-foot home Mary Jochim shares with teacup poodle Mini Me.